There are no free articles left this month.
You are reading your last free article.
To read 2 more, you have to create an account.
The sale of a product or the shipment of a component are some of the events that most legacy firms rely on. Digital platforms have a lot of power because of their use of interactive data, streamed by users interacting with platforms. Thanks to the internet of things and sensors, legacy firms are able to tap into the power of interactive data. It's not easy to shift from episodic to interactive data. It is an essential part of any digital transformation initiatives. To remain relevant in the modern era, legacy firms must find ways to use real-time, interactive data.
The power of data to drive business value is unprecedented. Digital platforms such as Facebook, Amazon, and Google have business models that show the power of this power. For a lot of legacy firms, the power of data is not being utilized. Their traditional approach to collecting and using data is one of the reasons they are holding back.
